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Property profile & analytics
OFF-MARKET
Estimated value
$1,630,000
Office buildings
1124 Riverside Ave Spokane, WA 99201-1132
Individually Owned
1-yr Hold
~
Est. High Equity
Property ID
US90-0828715
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1912
Total area
5,938 SF
Lot
0.42 ac (18,320 SF)
APN
35183.2238
UPID
US90-0828715
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
US Drug Enforcement Administration Justice Department
-
Spokane Counseling Group Physician Medical Clinic
-
B-Z Llama Ranch Ranch
-
Lee Law Office, P.S. Law Firm Child Welfare Organization
-
Rita I. Zorrozua, LICSW Foster Care Service Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.40M
Comparable Approach
Comparable
$1.93M
Blend (final)
Blend
$1.63M
Owner & transaction history
State Of Washington · 1 yrs held
State Of Washington
since 2025
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$2.6M
+76.7%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Spokane submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Spokane submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,510,000
6.5%
$1,395,000
7%
$1,295,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,470,000
Current use
APARTMENT HOUSE (5+ UNITS)
$2,595,000
Change: +77% · Conversion: Easy
MEDICAL BUILDING
$1,410,000
Change: -4% · Conversion: Easy
RESTAURANT
$1,315,000
Change: -10% · Conversion: Moderate
RETAIL STORES
$1,280,000
Change: -13% · Conversion: Moderate
Blend value · Realmo final
$1.63M
Range $1.47M – $1.79M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$275 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$44,591
Tax year 2023
Assessed value
$4,572,000
Assessed 2024
Previous assessed
$4,328,500
+5.6% YoY
Effective rate
0.98%
On assessed value
Assessed land
$503,800
Assessed improvement
$4,068,200
Land market value
$503,800
Improvement market value
$4,068,200
Total market value
$4,572,000
Applied tax rate
10.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1912
Heating
NONE
Cooling
YES
Buildings
2
Stories
3
Units
1
Total area
5,938 SF
Lot
0.42 ac (18,320 SF)
APN
35183.2238
UPID
US90-0828715
Jurisdiction
SPOKANE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.6M
MEDICAL BUILDING
Est. value
$1.4M
RESTAURANT
Est. value
$1.3M
RETAIL STORES
Est. value
$1.3M
OFFICE BUILDING Current
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
RESTAURANT
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1912
Heating
NONE
Cooling
Yes
Stories
3
Buildings
2
Units
1
Lot
0.42 ac
Current owner
From public records · entity-resolved
State Of Washington
Individual
Mailing address
1124 W RIVERSIDE AVE STE #205, SPOKANE, WA 99201-1109
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 10, 2025
—
State Of Washington
West 1116 Riverside Ave LLC
Deed
—
Jan 22, 2021
—
West 1124 Riveside LLC
—
Deed
related
$1,935,000 · Umpqua Bank
Oct 7, 2014
—
West 1124 Riverside LLC
West 1124 Riverside Avenue Pat
Quit Claim Deed
related
—
—
—
West 1116 Riverside Partners
—
Deed Of Trust
related
$503,378 · Washington Trust Bank
—
—
West 1124 Riverside Ave LLC
—
Deed Of Trust
related
$2,093,832 · Umpqua Bk
—
—
West 1124 Riverside LLC
—
Loan Modification
related
—
—
—
West 1124 Riverside Partners
—
Deed Of Trust
related
$2,410,000 · Us Bank NA
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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